Attempting financial independence in Ireland

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Monthly Archives: October 2016

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So I’ve probably revealed too much about my finances on this blog, kind of knew it as I did it but I’m going to remove the parts which show my income and the detailed spending analysis and leave high level data instead. The personal stuff is staying though.

I’m just going to show spending by category for the full years completed so far, 2014 and 2015. As here:

2014

2015

Savings

31.5%

34.5%

Entertainment

12.4%

14.1%

Other

9.1%

8.8%

Bills

12.1%

8.5%

Upkeep

4.4%

7.8%

Travel

8.5%

7.5%

Mortgage

9.4%

7.4%

Groceries

6.6%

7.1%

Health

6.0%

4.3%

There is increased spend on upkeep but lower on health as I cut insurances and got better priced medication. The savings rate and mortgage interest percent have gone down, suggesting my income (pure take home pay, pension contributions not included but also rent and anything else receivable) increased as it did. Bills went down as property tax, home insurance and waste collection were all paid for 2015 in 2014. Entertainment went up due to my lovely girlfriend :-).

Unfortunately though the percentages aren’t enough to retire as early as I’d like and are only set to get worse in 2016 :-(.

Savings includes the capital element of my mortgage repayments, it would be 20.9% in 2014 and 25.2% in 2015 otherwise.

Other is charities, cleaner, clothing, gifts, memberships and miscellaneous. Upkeep is repairs, maintenance, DIY, tradesmen expenses and new appliances. Bills is taxes, technologies, insurances and utilities. I intend to count wedding gifts in travel so this will see an increase in 2016 as will upkeep.